The Wise Teen's Guide to Financial Facts & Entrepreneurial Basics

As a student you usually have limited income in the form of an allowance. Thru TV and all the advertising we are exposed to, it's no surprise that we are all influenced to be an "instant gratification society". No matter if we have $10.00, $100.00 or a $1,000.00 we want to go shopping but usually have a list of things to buy longer than our current funds. We spend it all now then we're broke and out of money till the next delivery of cash into our life. Later in life, we'll have credit cards and handle them the same way. Spend it all, make minimum payments and look for another company to offer us a new card. This is how we get sucked into the "live beyond your means financial cycle" and owe all our weekly income to credit card payments and other bills and end up with no discretionary (free) funds left over for the extras we want in life. We can never get ahead financially because we're always in debt, and behind a payment or two. Most young people will ruin their credit by age 25-30 or are already heavily in debt at that age. They will start their young adult life treading water financially and usually end up declaring bankruptcy to resolve the issues. Unfortunately, this is usually at the age where the first pivotal point in life occurs, the transition from childhood responsibilities to adult responsibilities, where you are usually getting married and having a family. With no credit, bad credit or a bankruptcy in your financial pocket, succeeding in this stage of life becomes very difficult. You, however, will not have this experience because of the skills you will learn in this training manual. Your finances will always be under your control and money and credit will be a tool to having everything you want and not the other way around.